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The rejected pension improvements would have meant just 0.45% of GDP

Broadcast United News Desk
The rejected pension improvements would have meant just 0.45% of GDP

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Since Javier Mire vetoed the pension reform approved by Congress, retirees will receive much less than the basic basket. According to the Congressional Budget Office (CPO), this improvement means that full-year spending will only be 0.45%, despite the president’s projection of additional spending of 62% of GDP.

Anses confirmed that the salary in September will rise from $225,540 in August to $234,540.23. This would mean an increase of 4.03% without taking into account the bonus, which will be announced soon but depends on the will of the government. Recently it was $70,000. The definition of Parliament guarantees that the salary for each adult cannot fall below the basic basket of 1.09, which would bring the salary to $317,700, above the new amount defined by the executive.

The president said last week that “corrupt fiscal policies, with an overwhelming majority voting for a nonsense involving a debt of 62% of GDP, have cost Argentina $370 billion and ruined the lives of future generations.” However, the OPC expects an incidence rate of just 0.45% for the product for the rest of 2024.

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Additional financing to assume debt. “If the government had completed the reversal of the Northern Gas Pipeline on time, the money could have been used to pay the increase in pensions voted by Congress and rejected by Mire,” they questioned the Renewal Front. According to calculations by the party led by Sergio Massa in a report obtained by PERFIL, the increase in revenues affected by the law incurs a cost of 1.149 billion dollars per year.

“The delay in the works means a loss of $180 million per month,” they said. That means if it ends in January next year, a six-month delay will result in a total loss of $1.048 billion, almost the amount needed to increase all minimum pensions. “We Argentines are paying a high price for the inefficiency of the administration,” they stressed.

A year has passed since the start of this key work on energy infrastructure, which aims to reverse the flow of natural gas and now transport it from Vaca Muerta to the northern provinces. It will allow the supply of natural gas to the provinces of Córdoba, Tucumán, La Rioja, Catamarca, Santiago del Estero, Salta and Jujuy. It was supposed to be completed in May, but three months later it has not been completed.

The mayor of Quilmes, Mayra Mendoza, is wrong to say that the president “does not have money”. “Let’s take an example: the Milei government, under the pretext of stopping the fight against the peso, spent $12.4 billion. Dollars that should have belonged to the reserves of the Central Bank, but Milei gave them to those who speculated on their value, which, as we all know, determines the price of all the goods we consume,” he wrote in X (ex-Twitter). By contrast, the La Campora leader could provide “more than $38 million in pensions for the increase voted by the Senate”. And, as we know, there are far fewer than 38 million retirees. That is: obviously, the resources are sufficient. It’s just that Milei decided to spend the money on other things than to give retirees a more dignified life. “In fact, the number of people within the ANSES pension system is less than 6 million.



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